Revealed: 155 Qld locations where you can buy now at 2013 prices
Bargain hunters can go back to the future to these surprising locations across Queensland where property prices now are cheaper than a decade ago. SEARCH THE FULL LIST
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
Homebuyers on a budget can go back to the future and purchase a property from 92 house and 63 unit markets across Queensland where median prices now are cheaper than, or close to, a decade ago.
While the pandemic boom pushed up house prices in the overheated southeast corner, buyers can save up to $200,000 on 2013 prices in select regional areas that have passed their peak.
PropTrack data also reveals first-home buyers and investors can find real estate gold in 18 metro apartment markets, five in inner-city Brisbane, where unit prices are up to $80,000 less than ten years ago.
PropTrack ranked suburbs where median prices had declined, or risen by less than 10 per cent, to uncover affordable pockets.
The Sunshine State maintained its price advantage despite staggering growth along the populated coastal corridor, with significantly more suburbs with 10-year losses or minimal gains than anywhere else in Australia.
MORE NEWS
Where to buy now for cheap to double your money
Aussie suburbs where prices doubled in under two years
Broncos legend power couple reveal new renovation
Brisbane’s median price in May 2013 was $435,000 for houses and $390,000 for units, compared with $810,000 and $540,000 this year.
PropTrack economist Angus Moore said some house markets highlighted were rural outposts linked to Australia’s resource boom, which peaked over a decade ago.
Turning the spotlight to units, the data offered hope for first-home buyers not willing to sacrifice job opportunities or lifestyle to get a foot on the ladder.
Mr Moore said broad double-digit capital growth on the back of record interstate migration through 2020-2022 meant these markets were the exception, not the norm.
“If you look at the list, and then think about how many places there are in Queensland broadly, there isn’t a lot of places where you can buy at the same price as 10 years ago. For houses in particular, we have seen pretty brisk growth in southeast Queensland and Brisbane,” Mr Moore said.
“It is really important to do your due diligence and understand the area you’re buying into — whether it fits what you’re looking for, and what the future might look like for that area.
“Past performance is no guarantee of future performance,” he said.
The median house price in the coal mining town of Moranbah 10 years ago was $598,500 as workers and their families rushed to share in its riches.
Now, the buy-in is down 45 per cent to $330,000, with 164 house sales recorded over the last 12 months compared to 68 in 2013.
Unit prices in inner-city spots such as Fortitude Valley, Hamilton, Bowen Hills and Albion were all at least comparable to a decade ago, or in the case of the latter example, down 14 per cent or $80,000.
But while the tag “affordable” sits at odds with newer development in those areas, where luxury river view apartments are listed for $2m, the modest median price reflects decent supply across the entry-level market.
“We talk about how building homes where people want to live is what makes housing affordable, and Brisbane has done a good job of building apartments in some inner-city areas,” Mr Moore said.
“That level of supply has meant some of those areas haven’t seen the same increase in prices, and certainly some of these areas will be attractive to younger households who don’t necessarily need a larger dwelling, and want to be close to all those amenities you find close to the CBD.”
Harcourts Connections agent Tamara Gannon said demand for entry-level city units was strong, with rising interest rates over the last year putting more buyers in a lower price bracket due to decreased lending capacity.
Stock levels were 30 per cent down on the same time last year, with typical days on market between 7 and 14 for units in the Bowen Hills area, Ms Gannon said.
“There is a limited number of listings online and it is becoming less and less as competition is rising,” she said.
“My advice to first-home buyers is to have pre-approvals ready to go so you don’t miss out.”
Ms Gannon said working with a mortgage broker could assist new buyers in presenting a “clean contract” — for example, one without finance conditions.
She said the split of buyers in the city unit market was currently around 60 per cent first-home buyers, 20-30 per cent investors, and the remainder investors or people wanting a second home.
“We’re getting a lot of people who were mainly looking at townhouses, but the townhouse markets in those city northern regions are absolutely booming, so because of rising interest rates the first-home buyers’ budgets were dropping back into the unit market,” Ms Gannon said.
Units in five suburbs in the Logan - Beaudesert area were also ranked, along with three suburbs in Brisbane’s south and two in the north, plus two Ipswich suburbs and Clontarf in Moreton Bay North.
Across the regions, another 24 suburbs in the Mackay Isaac Whitsunday region made the list with Moranbah, including Clermont, where house prices were down $74,500 from 2013, Sarina Beach (-$37,500), and Mackay (-$31,000).
Townsville suburbs also featured prominently, with 22 suburbs recording losses or minimal gains — most notably Saunders Beach, where a typical house costs 20 per cent less, down from $485,000 to $390,000.
In Central Queensland, 21 locations were highlighted led by Taroom, where prices plunged 42 per cent, or $105,000, to a median of $145,000.
Other suburbs were in Outback Queensland (14 locations) and Darling Downs Maranoa (5), along with Mundabbera in Wide Bay, Cotswold Hills in Toowoomba, and Willow Vale on the northern Gold Coast.
Ray White Surfers Paradise agent Josh Thomas was surprised to learn Willow Vale had recorded negative growth despite soaring demand and a record-breaking $4m sale in November 2021.
Mr Thomas said the data reflected the area’s changed housing profile, with developments bordering the Gold Coast’s established northern growth corridor creating more entry-level opportunities for buyers.
“Willow Vale still has a large acreage neighbourhood, but what has occurred over the last 10 years or so is a lot of subdivision which has then brought in smaller parcels with more entry-level properties,” Mr Thomas said.
“This has been a positive example of releasing development land parcels and getting more people into affordable housing.”
And for units, another 45 regional markets recorded falls or minimal gains — in South Gladstone, apartment prices were down 55 per cent, or $205,500.
Originally published as Revealed: 155 Qld locations where you can buy now at 2013 prices
First look: New Coast shopping centre for surprise site
A long-empty site in a surprise location will be transformed into a retail showroom complex under fresh plans lodged with the council. FIND OUT WHERE
Revealed: How much rent you need to pay in every Qld suburb
Rents have increased again in 252 Queensland suburbs, reversing the brief downward trend recorded just three months ago. See how your suburb compares!